IREN Limited (NASDAQ:IREN) shares are trading higher Wednesday after securing transmission deal for planned 800MW South Australia data center.

The site is expected to house an 800 megawatt facility – more than twice the size of any data centre in Australia.

IREN Limited (NASDAQ:IREN) shares are trading higher Wednesday after securing transmission deal for planned 800MW South Australia data center.

The AI infrastructure firm secured a grid connection for a planned South Australian campus, with energization targeted for 2028.

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The announcement comes days after IREN secured $3.65 billion in financing to support its Microsoft AI contract.